Businessman and philanthropist Femi Otedola has reflected on the 21st anniversary of the Sir Michael Otedola Scholarship Scheme award ceremony, recalling that President Bola Tinubu, then Governor of Lagos State, presided over the event in 2005.

Sharing a throwback post on Thursday, Otedola described the occasion as a significant moment in his family’s commitment to education and youth development.

He revealed that during the ceremony, he donated ₦200 million to the scholarship scheme established by his late father, Sir Michael Otedola, in 1987. According to him, the donation was aimed at sustaining the family’s legacy of supporting deserving students and expanding access to quality education.

Otedola noted that the event highlighted the importance of investing in education, adding that the values behind the scholarship scheme remain as relevant today as they were two decades ago.

Reflecting on the journey since the 2005 ceremony, he pointed out that Tinubu, who chaired the event as Lagos State governor, now serves as President of Nigeria.

He also shared a message on philanthropy, stating that true wealth is measured not by the amount of money a person accumulates but by the number of lives they positively impact.

The Sir Michael Otedola Scholarship Scheme was established in 1987 to provide financial assistance to outstanding students, promote academic excellence, and expand educational opportunities for young Nigerians.